Best homeowners insurance in Portland, OR for 2022

Portland, Oregon is a unique blend of wild nature and funky urban cityscapes. For homeowners of Portland, however, this picturesque landscape comes with some potential threats — including wildfires, flooding, landslides — highlighting the importance of homeowners insurance and additional protection like flood or earthquake insurance. 

The average cost of homeowners insurance in Portland is $858 per year or $72 a month. This is around 10% lower than the statewide average of $943 per year, and about 55% lower than the national average of $1,899. 

However, cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Portland.  

Best homeowners insurance companies in Portland

Of the companies we looked at, USAA has the lowest rate, with an average annual cost of only $837. Not far behind is State Farm with a slightly higher average annual cost at just $877. 

Both USAA and State Farm perform exceptionally well in customer and claim satisfaction ratings with J.D. Power, which rates companies based on things like price, customer service, billing, and claims handling.  

Policygenius analyzed thousands of quotes from the 5 largest Portland insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Portland residents to find the best homeowners insurance in Portland.

State Farm

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

• Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

• Get up to $1 million in personal liability coverage

• Score discounts for bundling, installing security devices, and choosing a high deductible

• File and track claims online, over the phone, in person, or through its mobile app

• High customer satisfaction and financial strength ratings

Cons

• No discounts for first-time homebuyers or going a year without a claim

Read our full State Farm home insurance review

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Why State Farm tops our best list

State Farm tops our best list because of the numerous add-on coverages it offers. Portland residents could benefit greatly from State Farm’s water backup coverage — especially those living in older homes with aging plumbing systems. Not only that, State Farm makes it easier to file and track your claim. You can submit a claim either online, over the phone, on the mobile app, or even in person. 

How to get a quote

 Online through State Farm

Farmers

Farmers is one of the largest and most reputable home insurance providers in the industry, offering special discounts for teachers, nurses, first responders, and non-smokers — plus the option to rebuild your home with green materials after a claim.

Pros

• Several discounts and unique ways to save, including claim forgiveness and declining deductibles

• 3 flexible coverage packages with varying levels of protection for most coverage and budget needs

• Offers extended and guaranteed replacement cost coverage options

• File claims online, via text, on its mobile app, or by calling its claims center

Cons

• Rates are typically more expensive

• Below-average customer satisfaction ratings

• No repair network to help you find a certified contractor or repair professional after filing a claim

Read our full Farmers home insurance review here

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Why Farmers tops our best list

We love companies that give customers a variety of customizable home insurance policy options, and Farmers does this in flying colors. Portland residents can choose from 3 flexible coverage packages that meet the coverage and budget needs of most people. Couple that with extensive discount options — including affinity discounts for teachers, nurses, and first responders — and Farmers is a great option for most Portland residents. 

How to get a quote

Online through Farmers

USAA

USAA's robust coverages and high marks for customer service and claims satisfaction make it a solid home insurance option for military members and their families.

Pros

• Score discounts for zero claims, being a loyal USAA member, opting into e-billing, and more

• Base policy includes coverages that cost extra with most other companies

• Offers earthquake coverage — which is hard to come by

• Get discounted home security systems and a discount on premiums through its partnership with ADT

• Industry-best customer service and claims satisfaction ratings

Cons

• Only available to military families

• Doesn’t offer extended or guaranteed replacement cost dwelling coverage

Read our full USAA home insurance review here

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Why USAA tops our best list

USAA only provides coverage to military members and their families, but if that applies to you, then USAA might be the perfect fit. USAA offers great coverage options at affordable prices. Plus, they have a long list of available discounts to make those monthly premiums even more affordable.

How to get a quote

 Online through USAA

Allstate

Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.

Pros

• Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection

• 8+ discounts, including autopay, bundling, zero claims, and new homebuyer

• Get up to 25% off your premiums when you bundle home and auto insurance

• Excellent customer service and claims satisfaction ratings

• File and track claims online or through its mobile app

Cons

• Rates are typically high compared to competitors

Read our full Allstate home insurance review

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Why Allstate tops our best list

Portland residents looking to combine their home and auto insurance and save hundreds should look to Allstate for coverage. On top of those savings, Allstate has many useful coverage add-ons, like mold and water backup protection which are helpful in the event of water damage. 

How to get a quote

Online through Policygenius or Allstate 

American Family

American Family's status as the 7th largest home insurance provider in the U.S. speaks to its popularity and reputation. Our fave perk? Its diminishing deductible program that lets you earn credits for every year you go without filing a claim.

Pros

• Unique coverage add-ons, like matching siding insurance and hidden water damage coverage

• Save up to 20% on home insurance and 29% on auto insurance for bundling the policies together

• Earn a $100 credit toward your deductible for ever year you go without filing a claim

• File claims online or on its mobile app — with 24/7 claims support

Cons

• Doesn't offer extended or guaranteed replacement cost coverage

• Above-average customer complaints according to the NAIC

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Why American Family tops our best list

American Family offers customers the benefit of declining deductibles, which reduces $100 from your deductible each year you go without filing a claim. To save even more, American Family offers substantial savings for customers who bundle their home and auto insurance. 

How to get a quote

Online through American Family

Cheapest homeowners insurance companies by ZIP code in Portland

Looking at average home insurance costs for 15 of the most popular companies in Portland, we found that the cheapest home insurance in the city can be found in the 97210 ZIP code (Nob Hill and Hillside neighborhoods) with Auto-Owners Insurance. The average Auto-Owners Insurance rate in this area is $494 per year — less than the city average of $858 per year. 

The most affordable areas for homeowners insurance in Portland

With an average home insurance rate of $831 per year, the 97219 ZIP code (South Burlingame), is the most affordable area for home insurance in Portland. South Burlingame is more central to the Portland area and has a higher median home value, but the rates are still among the lowest in the city.

The most expensive areas for homeowners insurance in Portland

With an average home insurance rate of $890, the 97258 ZIP code (downtown Portland) is the most expensive area for home insurance in Portland. The increased population density and crime rate could explain the higher-than-average premiums.

Shopping for homeowners insurance in Portland

When shopping for your next homeowners insurance policy, you'll want to make sure you have the coverage you’re being quoted on aligns with what you actually need so that you get a more accurate rate comparison. 

In this section, we break down the average annual home insurance rates in Portland for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Portland.

Portland home insurance costs by coverage amounts

Dwelling coverage is the part of your policy that covers the physical structure of your home and anything attached to it. When determining the right dwelling coverage amount, it's important to consider your home's total replacement cost. 

As the table below highlights, more dwelling coverage usually means higher homeowners insurance rates. In Portland, the biggest jump in average yearly cost comes between the $400,000 and $500,000 ranges of coverage.  

Another part of any homeowners insurance policy is liability coverage. This is the part of your policy that pays for medical or legal bills in case you’re responsible for someone’s injury or property damage.

The table below shows the relationship between liability coverage amounts and average yearly costs. Unlike dwelling coverage, more coverage doesn't necessarily mean higher average costs.

Portland home insurance costs by deductible amount

Every homeowners insurance policy includes a deductible — the predetermined amount of money you are responsible for paying when you file a claim. Any covered loss over that amount is covered by your insurance provider.  

As seen in the table below, Portland residents can save around $100 on home insurance by choosing a $1,000 deductible over the $500 option.

Home insurance discounts in Portland

Many insurers apply discounts to your policy if your home has safety or security features like deadbolts, smoke alarms, and burglar alarms. Because Portland has a higher crime rate, these security measures will not only help save you money, but they will also help keep you and your home safer.

While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Portland with deadbolts, smoke alarms, or burglar alarms. 

Home insurance companies in Portland for dog owners

Some Portland dog owners could see higher rates because of the dog breed they own. Some insurance companies consider certain dog breeds more aggressive or dangerous and a higher liability risk, so insurers will often factor this into rates.

With an average rate of $637 per year, American Family has the cheapest home insurance rates in Portland for a home with a dangerous dog breed, while Allstate’s average yearly premium of $1,034 is the highest. 

Home insurance companies in Portland for poor credit

Poor credit scores can also lead to higher home insurance rates. Insurance companies consider customers with low credit scores to be more likely to file claims for small damages or losses, so providers will take this into consideration when setting rates. 

With an average rate of $1,067 per year, American Family has the cheapest home insurance rates in Portland for a homeowner with poor credit, while Farmers’s average yearly premium of $2,300 is the highest. 

Home insurance companies in Portland for pool owners

Backyard pools put owners at greater risk of filing a liability claim and that is often reflected in home insurance rates. But there are plenty of companies that put less of an emphasis on this when setting your rates, so make sure to shop around and compare policy options.

With an average rate of $671 per year, American Family has the cheapest home insurance rates for Portland homes that have a swimming pool, while Allstate’s average yearly premium of $1,034 is the most expensive.

How to buy homeowners insurance in Portland

Here are a few steps to follow as you shop for homeowners insurance in Portland.

1. Reach out to a licensed Policygenius agent. Our team of license insurance experts are ready to help you find the right coverage at the right price without skimping on coverage.

2. Ask about Oregon's FAIR plan coverage options. If you are at higher risk of wildfire or severe weather and you’re struggling to find coverage through a traditional insurance company, ask your Policygenius agent about getting coverage through the Oregon FAIR Plan. 

3. Consider purchasing flood insurance. Depending on your proximity to the coast, you could be at a higher risk of flood or water damage. Standard homeowners policies don't cover flooding, so it's important to add that coverage or purchase a separate policy specific for flooding if you live in a high-risk area.  

4. Figure out how much you can afford to pay for your deductible. A higher deductible means lower rates and short-term savings, but it also means you’ll be paying more out of pocket in the event of a claim. Take this into consideration when setting your deductible.

5. Compare quotes from a Policygenius agent. Once you get your coverage needs established and input a few details about your home, a Policygenius agent will walk you through quotes from multiple companies to help you find the right policy at the best price. 

6. Choose your policy, sign it, and pay your first premium. The only thing left to do is sign your policy and pay your first premium. A Policygenius agent will complete all the paperwork for you and even cancel any existing policies.

Methodology

Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:

• Dwelling: $300,000

• Other structures: $30,000

• Personal property: $150,000

• Loss of use: $60,000

• Liability: $300,000

• Medical: $1,000

All rates based on the above coverage limits except where otherwise noted.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.